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Vol.13, No.4, November 2024. ISSN: 2217-8309 eISSN: 2217-8333
TEM Journal
TECHNOLOGY, EDUCATION, MANAGEMENT, INFORMATICS Association for Information Communication Technology Education and Science |
The Impact of Megatrends on the Business Environment of EU27 Countries
Miroslava Barkóciová, Mária Dolna, Marián Chrobák, Mariana Ivaničková
© 2024 Miroslava Barkóciová, published by UIKTEN. This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License. (CC BY-NC-ND 4.0)
Citation Information: TEM Journal. Volume 13, Issue 4, Pages 2997-3008, ISSN 2217-8309, DOI: 10.18421/TEM134-34, November 2024.
Received: 26 August 2024. Revised: 04 November 2024
Abstract:
The global business environment is constantly evolving due to various megatrends. Understanding these shifts is crucial for economies, particularly for managers responsible for decisionmaking in diverse industries. Managers benefit from knowing both, the specific business environment they operate in, or plan to enter, and the interconnected environments of neighbouring countries or economically similar regions. This paper, therefore, analyses how current megatrends impact the quality of the business environment within EU27 countries. This understanding is especially critical for small and medium-sized enterprises. The paper aims to assess the effects of selected megatrends on the business environment quality using regression and correlation analysis. Five prominent megatrends have been identified: M1 - Shift in Economic Power, M2 - Resource Scarcity, M3 - Technological Breakthrough, M4 - Social Change, and M5 - Rapid Urbanization. Each of these trends has been assigned measurable indicators. Regression analysis indicates that three of the five megatrends adversely impact the business environment quality in the EU27. Furthermore, correlation analysis reveals a strong linear dependence between the Shift in Economic Power and business environment quality, along with a moderate negative dependence related to Social Change. This approach clarifies the influence of megatrends on business environments, providing valuable insights for decision-makers aiming to navigate a shifting economic landscape.
Keywords –Business environment, decision making management, economic power, megatrends, resource scarcity. |
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